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Collingwood apparently negotiating sale of pokies venues to the Melbourne Racing Club
- Thread starter NoobPie
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manicmagpie
A slice of fried gold
Please let this deal happen. Cannot stand that my club profits from pokies.
Collingwood has commercial reasons for looking to sell the two gaming venues ..... says the article.
Havent read the Annual Report, so can anyone shed some light on the commercial reasons?
Havent read the Annual Report, so can anyone shed some light on the commercial reasons?
manicmagpie
A slice of fried gold
The pokies and clubs are generating solid profits so at a guess the commercial reasons are likely to be along the lines of wanting the capital to finance another project. We've just completed a massive audit of all club operations so they possibly identified areas that we will need to spend big money on in the near future, or alternatively, that pokies will become less tenable either economically or in a social sense for us in future.
- Thread starter
- #5
Will certainly be interesting to see how it plays out.
I had thought we signed a commitment to Melbourne City Council to get out of pokies within a decade in exchange for $10M in funding a couple of years back. It is quite possible that the "commercial reasons" relate to a deal that is contingent on getting out of pokies rather than the need for capital to finance another venture
Darkyprotector
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Correct we have an agreement , were looking at investing in more social program's, academies and traing facilities in our zones
Great move
Great move
Expecting a return ($s) from these activities?
Darkyprotector
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The best return
SUCCESS
No seriously we will buy housing
We donate to salvos who administer
Ethical and assett rich
Ned_Flanders
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richmond does from its leisure facilities management and its training arrangement with swinburne
why wouldnt the pies be out to make a profit?
The field is usually subject to tendering with little capital required, lowest profit margin wins.
Ned_Flanders
Make me an Admin!
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richmond tendered for its stuff, and yes you aint earning 50% margin, but what is the issue as long as its profitable?
you complain about vic clubs being a burden on the afl, being dependant upon pokies, no you bag them trying to get out of peddling booze and gambling?
Its you who who suggest my comments amount to bagging, its simply questioning the investment as low margin & usually subject to rise & fall to deliver on going profits.
Finding investments that are $bulletproof is a problem for my club (the Eagles) & always has been, hence my interest.
Losing money is not an art, & our footy clubs are not insulated.
Who the * knows what the Eagles do investment wise. A year or so ago we had 50 million in cash just sitting in the bank. Doesn't suggest a particularly active investment strategy.
Not familiar with Lathlain?
Not suggesting the Eagles have an active investment strategy as do many of the Melbourne based clubs.
How much did the Eagles drop on the GFC?
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Dream stadium deals with limited capacity the dominate team in a two team football mad state always helps.
Rather similar to the broncos in Brisbane
telsor
Hall of Famer
Well it means the new owners will be less visible and thus less susceptible to public scrutiny and censure, so I imagine any changes wont be good.
But hey, details like that don't matter when you've got the feel good factor, right?
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Dream stadium deals? Where?
The WA clubs always got screwed by the WAFC and AFAIK no one knows what their deal is like at the new stadium.
Relax Rob, just acknowledging there are too many teams in Melbourne & everyone knows that.
As for rent the WA clubs release that, the Melbourne clubs don't want anyone to know, that's why Bombonboy is firing blanks, he doesn't know what his club pays.
Its $137 mil the Eagles have contributed to WA footy in rent & royalties over the years, imagine the green eyed monster ...
Im happy they are doing this - blight on society.
On another note they are boring af too
On another note they are boring af too
MaddAdam
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